17:32:33 EDT Thu 29 Oct 2026
Enter Symbol
or Name
USA
CA



Terra Clean Energy Corp (2)
Symbol TCEC
Shares Issued 82,333,898
Close 2026-10-29 C$ 0.135
Market Cap C$ 11,115,076
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Terra Clean pushes Marysvale drilling to November

2026-10-29 16:50 ET - News Release

Mr. Greg Cameron reports

TERRA CLEAN ENERGY COMPLETES DRILL PADS AND TRENCHING AHEAD OF PLANNED NOVEMBER DRILLING AT MARYSVALE URANIUM MINES PROJECT

Terra Clean Energy Corp. had continued progress at its Marysvale uranium mines project near Marysvale, Utah. Drilling mobilization is now expected in late November, revised from early November due to equipment availability. In the meantime, the team continues to refine drill targets using results from the trenching program, positioning the project for a strong start to drilling.

Construction of drill pads 2, 3 and 5 are complete, and five trenches -- 1, 2, 3, 4 and 6 -- have been excavated and geologically logged. The completed work marks an important step toward drilling and has provided valuable new geological information to guide the program.

Trenching has exposed numerous structures and faults, improving the geological team's understanding of the project's structural framework. These observations are being assessed alongside historical mine records and the company's 3-D geological model to finalize drill-hole locations, evaluate targets and prioritize drilling.

  • Pad 2 will test two high-priority targets the 706 vein, which historical assays logged high-grade uranium and an extension of the Prospector 1 vein at depth below the known workings.
  • Pad 3 will target the eastern side of the property with two planned drill holes around the Auberg shaft where historical mineralization was identified and test for an eastern extension of the Prospector 1 vein.
  • Pad 5 will test the Prospector 3 vein at the 300-foot level and attempt to duplicate results of an historical drill hole from the 1970s showing mineralization was open well below the workings at the 500-foot level and possibly as deep as the 1,400-foot level as reported by Callahan in 1973 and numerous other USGS reports over the years.

Callahan's 1973 report described the Prospector 1 vein as remaining open to a depth of at least 1,400 feet. The historical interpretation provides an important basis for testing the vein below the 500-foot workings. Historical reports do not establish its present day grade or economic potential but refers to a drill hole from the 500-foot level underground showing mineralization is open to at least the 1,400-foot level. The company's drilling will assess whether uranium mineralization continues at depth.

"With three drill pads complete and five trenches logged, we are building strong momentum toward our November drill start," said Greg Cameron, chief executive officer of Terra Clean Energy. "The trenching has given our geological team valuable exposure to structures and faults that will help sharpen our targeting. We are excited to bring the historical data, 3-D modelling and new field observations together as we prepare to test these targets with the drill."

KB Drilling Co. Inc. has been contracted to undertake the core drilling program. The company will provide further updates as target assessment is completed and drilling gets under way.

The company has entered into an agreement with 1001600878 Ontario Inc. (1001) on Oct. 27, 2026, pursuant to which 1001 will perform marketing, advertising and public awareness activities for the company. 1001 will provide digital marketing services including e-mail alerts, social media and related distribution. The services will be conducted in accordance with the applicable policies of the Canadian Securities Exchange.

1001 has been engaged by the company for a two-month period commencing on Oct. 31, 2026. In consideration for the services provided, the company has paid 1001 $40,000 in an upfront cash payment. The agreement will automatically extend for a further two months (unless terminated by Dec. 21, 2026) with the company making an additional payment of $35,000.

1001 is based out of Ontario, Canada, is arm's length to the company. Neither 1001 nor its principals have any interest in the company's securities, directly or indirectly or any right to acquire such an interest. 1001 has a business address located at third floor 39 Queen St., St. Catharines, Ont., L2R 5G6, and can be contacted at analysiseng@gmail.com

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, on behalf of the company by C. Trevor Perkins, PGeo, vice-president, exploration, for Terra Clean Energy, and a qualified person as defined by National Instrument 43-101.

About Terra Clean Energy Corp.

Terra Clean Energy is a Canadian-based uranium exploration and development company. The company is currently developing the South Falcon East uranium project located in the Athabasca basin region, Saskatchewan, Canada, as well as past-producing uranium mines in Utah and uranium exploration properties in Wyoming, United States. The company's strategy is to find and advance late-stage uranium projects to support growing demand for nuclear power and secure domestic mineral supply chains.

We seek Safe Harbor.

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